Cardano's Major Blockchain Metric Eyes Significant Increase, Here's What Happened

Cardano's major blockchain metric eyes significant increase, here's what happened cardano cardanoada cardanocommunity ada iohk $ada

, total value locked in Cardano increased by 6.5%, or 5 million ADA, during the day. The total number of ADA locked in protocols on Cardano, excluding staking, is 171.56 million tokens. This value is currently equivalent to $53.56 million.

According to the same source, the reason for Cardano's TVL increase could be the influx of funds into major DeFi blockchain protocols like Minswap, WingRiders and SundaeSwap. As noted earlier by, a major migration from centralized exchanges occurred as a result of the collapse of FTX. Investors either exited positions or went to decentralized services. Cardano was no exception, but here only the largest DEXes were able to see an increase in funds.

That said, the price of ADA remains a factor significantly pressing down on the total value locked on

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